Bitcoin Hits 2-Month Low of $65,590 as Middle East Conflict Pushes Oil to $96 per Barrel

According to CoinGecko, on Wednesday, Bitcoin fell to $65,590, its lowest price since late March, as military conflict in the Middle East drove oil prices higher and stoked investor concerns about inflation. Ethereum and Solana declined about 5% each to $1,830 and $72, respectively.

U.S. Central Command reported that the military intercepted Iranian missiles and drones, conducting self-defense strikes on an island in the Strait of Hormuz. Brent crude oil, the global benchmark, rose to a 12-day high of $96 per barrel amid negotiations for a peace settlement. The U.S. 10-year Treasury yield climbed to 4.5%, signaling investor concerns over near-term inflation driven by rising energy costs, according to Carlos Guzman, vice president of research at GSR.